Thursday, October 13, 2011
Better news on UK trade
Posted by David Smith at 09:45 AM
Category: Thoughts and responses

Just when it was needed, news of a better performance on Britain's overseas trade, with the deficit narrowing to 1.9 billion in August, from 2.3 billion in July and 3.6 billion in August 2010. It may be premature to talk of a rebalancing spurt but it is welcome.

This is the ONS's summary: "The UKs deficit on seasonally adjusted trade in goods and services was 1.9 billion in August, compared with a deficit of 2.3 billion in July. The deficit on trade in goods was 7.8 billion, compared with a deficit of 8.2 billion in July. The surplus on trade in services was estimated at 5.9 billion, unchanged compared with July. The volume of seasonally adjusted exports of goods was 1.3 per cent higher, and the volume of imports was 0.3 per cent higher than in July. Export prices of goods fell by 1.5 per cent and import prices fell by 0.5 per cent compared with July." The release is here.